OUTSIDE MARKETS SUMMARY:
| CORN: | 8 Higher |
| SOYBEANS: | 17 Higher |
| SOYBEAN MEAL: | $4.60 Higher |
| LIVE CATTLE: | $0.67 Higher |
| DOW JONES: | 114 Points Higher |
| NASDAQ: | 251 Points Higher |
| CRUDE OIL: | $0.10 Lower |
Midday Market Update:
Spot cheese prices increased from more aggressive buying. The block cheese price increased a penny to $1.8750 with four loads traded. The barrel cheese price increased 1.25 cents, closing at $1.9250 with two loads traded. Even though the gains were rather minor, Class III futures are 1 to 27 cents higher. Further support came from the dry whey price increasing by 0.75 cent closing at 52.50 cents. This is the highest price since Feb. 23. The butter price remained unchanged at $3.0750 with six loads traded. Grade A nonfat dry milk remained unchanged at $1.1975 with no loads traded. Class IV futures have only traded in the December contract with the price down a penny. Butter futures are 2.00 cents lower to 1.47 cents higher. Dry whey futures are unchanged to 0.12 cent lower.
